LPL Financial (LPLA)
Financials · Independent broker-dealer and investment advisory services
The nation's largest independent broker-dealer providing technology, clearing, and custody services to 32,000+ financial advisors managing $2.3 trillion in assets.
What LPL Financial does
LPL Financial is the nation's largest independent broker-dealer and a leading investment advisory firm and custodian serving over 32,000 financial advisors and approximately 1,200 financial institutions. The company manages approximately $2.3–2.4 trillion in advisory and brokerage assets, providing an integrated technology platform, self-clearing services, custody, fintech tools, and practice management services to support independent advisors. LPL earns revenue from fees and commissions on advisory services, platform usage fees, custody and clearing services, asset-based fees from mutual funds and insurance companies, and interest income from margin loans and client cash balances.
Themes: ["Independent broker-dealer and wealth management","Advisor-mediated marketplace","Fintech and trading platforms","Asset custody and clearing","Retirement solutions","Advisory services and wealth management"]
Fundamentals
- Price$311.47 as of 2026-07-09 close
- Market cap$24.1B as of 2026-07-10
- 1-year return-18.2% as of 2026-07-09 close
- P/E26.71 as of 2026-07-10
- Net margin+4.9% as of 2026-07-10
- Gross margin+99.0% as of 2026-07-10
- ROE+17.0% as of 2026-07-10
- Debt / equity1.28 as of 2026-07-10
- Revenue growth (YoY)+38.1% as of 2026-07-10
- Revenue CAGR (3y)+25.5% SEC XBRL
- Beta0.51 as of 2026-07-10
Dividend: yield +0.4%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Concentration risk on continued growth of independent financial advisors and their retention as a client base","Asset-based revenue dependency on equity market performance and advisor assets under management","Regulatory changes affecting brokerage commissions, advisory fees, and practice models could impact profitability and competitive positioning"]
Competitors & peers
- Charles Schwab (SCHW)
- E*TRADE Financial
- Fidelity Investments
- Ameriprise Financial (AMP)
- Raymond James Financial (RJF)
- Stifel Financial (SF)
- Waddell & Reed Financial (WDR)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.